Pipes intended for construction of the Keystone XL pipeline are shown in Gascoyne, N.D. on Wednesday April 22, 2015. TC Energy Corp. reported a first-quarter profit of $1.15 billion, up from $1.0 billion a year ago. THE CANADIAN PRESS/Alex Panetta

CALGARY — TC Energy Corp. raised its dividend as it reported a fourth-quarter profit of $1.1 billion.

The pipeline company says it will now pay a quarterly dividend of 90 cents per share, up from 87 cents per share.

The increased payment to shareholders came as TC Energy says its fourth-quarter amounted to $1.14 per share compared with a profit of $1.1 billion or $1.20 per share a year earlier when the company had fewer shares outstanding.

Revenue totalled nearly $3.6 billion, up from nearly $3.3 billion in the last three months of 2020.

TC Energy says its comparable earnings for fourth quarter 2021 amounted to $1.06 per share compared with $1.15 per share in 2020.

Analysts on average had expected an adjusted profit of $1.07 per share, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Feb. 15, 2022.

Companies in this story: (TSX:TRP)

The Canadian Press

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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